ontario regulation 91/26

made under the

Ontario Colleges of Applied Arts and Technology Act, 2002

Made: March 26, 2026
Filed: March 31, 2026
Published on e-Laws: March 31, 2026
Published in The Ontario Gazette: April 18, 2026

Amending O. Reg. 34/03

(GENERAL)

1. Subsections 4 (9) and (10) of Ontario Regulation 34/03 are revoked.

2. Subsection 9 (2) of the Regulation is revoked and the following substituted:

(2) If either of the following circumstances exist, the board of governors of a college shall not approve a proposed annual budget until the board has provided the Minister with an appropriate recovery plan, as directed by the Minister, and received the Minister’s approval to approve the budget:

1.  It appears that the college will not balance its budget in a year and the college has been identified by the Ministry as requiring the highest level of remedial action, as determined under the financial risk assessment framework established by the Minister.

2.  It appears that the college will not balance its budget in a year and the value of the college’s expendable net assets is negative, or is projected to be negative during the period of the budget.

(3) For the purposes of paragraph 2 of subsection (2), the value of a college’s expendable net assets shall be determined or projected in accordance with any instructions issued by the Minister.

3. Subsection 16 (2) of the Regulation is amended by striking out “subsections 5 (2) and (4) of the Proceedings Against the Crown Act” and substituting “subsection 8 (3) of the Crown Liability and Proceedings Act, 2019”.

Commencement

4. This Regulation comes into force on the later of April 1, 2026 and the day this Regulation is filed.